Security News > 2021 > March > Cyber Insurance Firm Cowbell Raises $20 Million
California-based cyber insurance firm Cowbell Cyber this week announced raising $20 million in a Series A funding round.
Cowbell did not disclose a valuation for the latest funding round.
Cowbell, which offers its services to businesses with a revenue of up to $1 billion, describes itself as the first cyber insurance provider to use AI for risk selection and pricing.
"Cybersecurity is now a risk management issue that is critical to the future of the insurance industry and is evolving at a pace that insurers have rarely seen," said Jack Kudale, founder and CEO of Cowbell Cyber.
"Cowbell Cyber has capitalized on businesses' accelerated digitization and an ever-changing threat landscape. Cowbell embraces AI and machine learning to gain efficiency and accuracy when assessing and underwriting cyber risk while focusing on the fundamental needs of our policyholders: keeping their businesses protected from evolving cyber threats."
Cyber insurance provider Corvus announced raising $100 million in a Series C funding round, bringing the total investment obtained by the firm to $147 million.